The unemployment rate in Malta fell to 3.5 percent in the fourth quarter of 2018 from 4.0 percent in the same period of the previous year. It was the lowest jobless rate since at least the first quarter of 2001, as the number of unemployed declined by 724 to 8,713 and employed rose by 12,260 to 239,427. By genders, the jobless rate was lower for women (3.4 percent vs 4.0 percent in Q4 2017) than for men (3.6 percent vs 4.0 percent). Meantime, the activity rate went up to 75.0 percent from 73.5 percent a year earlier, with the highest rate being recorded among people aged 25-54 (85.9 percent). Thus, the employment rate increased to 72.3 percent from 70.5 percent in the corresponding period of 2017. Unemployment Rate in Malta averaged 6.23 percent from 2001 until 2018, reaching an all time high of 8.24 percent in the third quarter of 2003 and a record low of 3.50 percent in the fourth quarter of 2018.
Unemployment Rate in Malta is expected to be 4.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Malta to stand at 3.30 in 12 months time. In the long-term, the Malta Unemployment Rate is projected to trend around 3.20 percent in 2020, according to our econometric models.